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PPP Loan Data — Quality Gold Inc, Fairfield, OH

SBA PPP loan data, payroll data, and salaries for Quality Gold Inc
OH

Quality Gold Inc

Entity: Subchapter S Corporation

Industry: Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers

Location: Fairfield, OH

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Quality Gold Inc is a subchapter s corporation located at 500 Quality Blvd in Fairfield, Ohio that received a Coronavirus-related PPP loan from the SBA of $3,227,500.00 in April, 2020.

The company has reported itself as a White owned business, and employed at least 359 people during the applicable loan loan period.

$ PPP Loan Information

Loan Size:

$3.23M

Jobs Retained:

359

Loan Approved:

2020-04-12

Lender:

PNC BANK, NATIONAL ASSOCIATION

Quality Gold Inc received a Paycheck Protection Loan of $3.23M through PNC BANK, NATIONAL ASSOCIATION, which was approved in April, 2020.

Based on standard PPP eligibility rules, Quality Gold Inc's total 2019 payroll expenses were approximately $15.49M in order to qualify for the PPP loan amount received.

Based on their reported 359 jobs retained, this equals an estimated average yearly compensation of $43,153 per employee1.

Because the loan received by Quality Gold Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Quality Gold Inc in Fairfield, OH

Quality Gold Inc
500 Quality Blvd
Fairfield, OH 45014

Business Industry

Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers (NAICS code 423940)

Business Owner Demographics

Race / Ethnicity: WHITE

Gender: Unreported

Veteran Status: Unreported

Congressional District: OH-08

Similar Companies near Fairfield

In the Fairfield area, 2 businesses in the "Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers" industry received a PPP loan. These local businesses reported an average of 182 employees (compared to this company's 359) and received an average PPP loan of $1,635,354 (compared to this company's $3.23M).

Similar Nearby Businesses Who Received PPP Funding:

4C's Gem Imports Inc
Fairfield, OH

$43,208 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 4,865 businesses in the "Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers" industry received a total of $282,454,264.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 5 employees, 99% lower than Quality Gold Inc's reported 359 employees, and received an average PPP loan of $58,058, 98% lower than this company's loan of $3.23M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/quality-gold-inc-fairfield-oh